Deutsche Bank released earnings that showed a loss for the first time in five years as they wrote down $4.2 billion in equity as a result of the global credit crisis. While Deutsche Bank has gotten off well because of reduced exposure to sub-prime, I fully expect more writedowns as the credit crisis continues. [...]

Jeremiah Wright is a self-absorbed and egocentric man. Barack Obama must disown Wright if he wants to have any chance of being elected President. I listened to the speech Wright gave at the National Press Club. I wanted to hear something good. The Bill Moyers interview was fine in my estimation. But Wright [...]

Barack Obama’s huge donor list is yet another reason why the DNC wants him to be the Democratic nominee. He has a large list of potential new donors to Democratic causes. This list is political gold for the Democratic party. The DNC needs to treat Obama with great care in order to [...]

When you hear about inflation on TV, don’t you often wonder why the official number seems lower than inflation feels to you when you go shopping? It’s an open secret in Washington, but the Consumer Price Index (CPI), the common measure of inflation, understates inflation. How this occurred is not entirely clear, although many [...]

If you are looking for companies that have yet to write down massive amounts of losses in this global credit meltdown, look no further than Banco Santander. The Spanish Bank holds a major position in the Spanish mortgage and construction boom. The Spanish property market is heading south quickly and I fully anticipate [...]

As I suggested in my blog titled ‘The U.S. Economy 2008,’ protectionism is the obvious outcome to a global economic downturn. As the economy turns down, people feel frustrated and angry. They look for scapegoats and turn to economic nationalism and protectionism as a release valve. I said the following in March:
“Experience [...]

Buffett Says Recession May Be Worse Than Feared (Yahoo! News, 4/28/2008)One Guy Who Has Seen It All Doesn’t Like What He Sees Now (WSJ, 4/26/2008)Ignore nonsense that credit crisis is over (Stene Pearlstein, Fort Wayne Journal Gazette (4/27/2008)Raised in boom times, many Gen-X and Yers see their dreams go bust (LA Times, 4/28/2008)Property Tax Revolt [...]

I have traveled to a number of countries since this campaign started and I have read much of the foreign press. From where I sit, it is obvious that non-Americans really want a ‘regime change’ in the United States. They view the U.S. as a threat to world peace and are frightened how [...]

Barack Obama is definitely not comfortable on a tractor, in a bowling alley, or downing shots of Crown Royal. You might think things like that are petty when it comes to voting in a democracy. But, in the end, many people are less concerned with global issues, and more concerned with the kind [...]

The Boston Globe had an editorial in today’s paper entitled ‘Hillary Strangelove’ about Hillary Clinton’s dangerous and outlandish saber-rattling. Recently, she said in the Pennsylvania debate that she would use “massive retaliation” against Iran for an attack on Israel. She later qualified this statement on Keith Olbermann’s show to mean in the case [...]